Bernstein SocGen raises Eli Lilly stock price target on strong Q3 beat

Bernstein SocGen Group has raised its price target for Eli Lilly (NYSE: LLY) stock to $1,450.00, citing strong third-quarter performance. The firm increased its revenue expectations for Eli Lilly to $92.5 billion, which is nearly $10 billion above the company's initial guidance for 2026. The third-quarter revenue of $24.4 billion surpassed expectations by about $1.9 billion.

Eli Lilly has experienced a 45.5% increase in revenue over the past year, reaching $86.5 billion, driven by robust demand for its diabetes and obesity treatments. Eight analysts have revised their earnings estimates upward for the upcoming period. The company maintains a financial health score of 3.53 out of 5. Performance margins stayed above 50% despite ongoing reinvestment efforts.

The $1 billion increase in revenue was primarily due to favorable items, with the remaining portion representing underlying performance. Analysts highlight Eli Lilly's pipeline, including Reta for a Q1 2027 filing and EloraTZP in Phase 3 trials, as well as expansion into international markets and the middle-income category outside the US.

The company's Innovation Day is scheduled for December 7. While the stock has delivered a 63.7% return over the past year and is near its 52-week high, InvestingPro analysis suggests it may be overvalued at current levels.